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There are now, as we know, immense industries giving work to millions of men, and existing for the sole purpose of producing war material. It is, therefore, entirely to the advantage of these manufacturers, and of those who lend them the necessary capital, to prepare for war, and to fan the fear that war is ever on the eve of breaking out.

Now, it is perfectly evident that the direct advantage of those capitalists who have invested their capital in such concerns lies in keeping up rumors of war in order to persuade us that armaments are necessary, and even spreading panic if need be. In fact, they do so.